Mistango River Resources (CNSX: MIS) has developed a geological model for its 34-sq.-km Eby-Baldwin project, located 10 km west of Kirkland Lake in the historic “Mile of Gold” of the Kirkland Lake district in Ontario.
The model considers Eby-Baldwin in the broader context of the Kirkland Lake district and how the project relates to the adjacent Macassa mine owned by Kirkland Lake Gold (TSX: KL; NYSE: KL).
The company has been acquiring parcels of land in the area for some time and recently purchased two additional landholdings, the most significant of which is the 21 sq. km Teck-Kirkland property, purchased from Hinterland Metals (TSX: HMI). The acquisition in late March effectively doubled the size of the Elby-Baldwin project.
“Nobody has properly explored the property, partly because the land package was fragmented and partly because the previous owners did little to develop the project,” Stephen Stewart, CEO of Mistango, said in an interview. “So, it was a little like herding cats to put these land packages together for us to systematically explore the property.”
The property, Stewart noted, contains the Baldwin underground mine, which between 1929 and 1938 produced 43 oz. gold from 81 milled tonnes at a recovered grade of 18.6 grams per tonne.